South American Data Update

RNS Number : 6825D

GETECH Group plc

28 March 2011

 



GETECH Group plc

("GETECH", "Company" or "Group")

SOUTH AMERICAN DATA UPDATE

GETECH, the oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations, is pleased to announce a significant increase in levels of interest in our range of data, interpretation services and study products for South America. 

Since 1 February 2011, GETECH has received orders for South American data, services and studies with sales value in excess of $550,000. This arises from a number of factors:

·      GETECH has extensive coverage of gravity data and a history of working in South America dating back to 1988. The Company has been involved in managing gravity data acquisition in Argentina, Brazil, Chile and Paraguay since 1991 in collaboration with Brazilian partners. This, together with our ability to undertake integrated proprietary contracts has led to a significant interpretation contract.

·      In 2010 the study "The Geodynamics and Petroleum Geology of the Equatorial Atlantic Margins" was completed and this has sold well.

·      We have significantly strengthened our sales team with the addition of a highly experienced and qualified salesman. One of his first sales target areas was South America which helped the Company to achieve the sales figure quoted above.

Ian Somerton, GETECH's marketing director comments "The increased sales in South America appear to reflect a combination of, timely studies being available, increased exploration activities due to the high oil prices and the uncertain political situation that exists in North Africa. We believe that when the next Brazilian licensing round is announced, which is expected to be later this year, the interest in our products and services will increase."

Enquiries

GETECH Group plc Raymond Wolfson, Chief Executive		Tel:  [phone]
WH Ireland Limited Katy Mitchell		Tel:  [phone]
Walbrook PR Helen Westaway		Tel:  [phone]

 

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